The Japan International Cooperation Agency has agreed to provide Vietnam with loans worth a combined 46.653 billion JPY (447.54 million USD) for infrastructure development.

Two agreements to this effect were signed by the agency and the Vietnamese Government in Hanoi on December 24.

The money will be poured into two projects in Hanoi , namely the Mai Dich-Nam Thang Long section of Belt Road 3 and Terminal 2 of the Noi Bai International Airport .

Belt Road 3, implemented with 20.591 billion JPY (197.5 million USD), is expected to ease traffic congestions in Hanoi and facilitate transportation between the city and its neigbouring localities of Hai Phong, Hai Duong and Bac Ninh.

Terminal 2 of the Noi Bai International Airport with a total investment of 26.062 billion JPY (250 million USD) aims to increase the airport’s capacity. The project will be conducted in the public-private partnership model.-VNA